Data from DappRadar shows rapid uptake of Polygon-based decentralized applications. The network now has 93 functioning DApps, up considerably over the past four weeks. Polygon, a leading platform for Ethereum scaling and infrastructure development, has attracted 75,000 new users over the past seven days, highlighting growing demand for layer-two decentralized applications.
The data, courtesy of DappRadar, shows that the top 20 Polygon decentralized applications, or DApps, were responsible for the increase. In this case, new users refer to active wallets interacting with Polygon DApps. The influx of new users brought in nearly $1 billion in volume.
In the last four weeks, the number of Polygon DApps tracked by DappRadar has grown to 93 from 61. Forty-six of these DApps are in the decentralized finance, or DeFi, space. As Cointelegraph recently reported, DeFi growth has helped push the cryptocurrency market’s share of the global money supply above 2%.
Ian Kane, DappRadar’s senior content and media relations specialist, described the way in which developers are using Polygon:
“Interestingly, as most DeFi dapps are built on open-source design Polygon dapp developers are simply copying popular dapps on Polygon and other chains like BSC and Ethereum. Rebranding them, adding a few new features, and pushing them out onto Polygon with one key difference.”
More users are flocking to Polygon because it offers “cheaper and faster transitions” than its Ethereum-based competitors, according to Kane. Polygon, formerly known as Matic, has made several noteworthy headlines over the past month. Decentralized finance protocol mStable launched on the Polygon chain in late April, offering yet another DeFi use case. Separately, decentralized exchange aggregator 1inch Network recently announced that it has expanded to Polygon.
Polygon’s native token, MATIC, was one of only a small handful of cryptocurrencies to report gains on Monday. The value of MATIC was up 5.7% on the day to $1.66, having gained over 71% in the past seven days, according to Coinecko.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 86% | 13 | $61 994.03 | -0.65% | -2.41% | $1 221 165 739 538 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 85.2% | 18 | $2 917.97 | -1.06% | -4.91% | $350 491 368 865 | ||
3 | USDT | Tether predictions | 94.8% | 1 | $0.999499 | -0.03% | -0.06% | $110 791 435 605 | ||
4 | BNB | Binance Coin predictions | 88% | 15 | $588.03 | -1.58% | -0.09% | $86 785 014 648 | ||
5 | SOL | Solana predictions | 85.6% | 28 | $146.37 | 2.05% | -5.60% | $65 668 966 607 | ||
6 | USDC | USD Coin predictions | 95.2% | 1 | $1.000041 | -0.01% | 0% | $33 147 339 829 | ||
7 | XRP | XRP predictions | 87.6% | 14 | $0.504996 | 0.28% | -5.89% | $27 956 154 436 | ||
8 | TON | Toncoin predictions | 68% | 59 | $7.04 | -2.73% | 20.46% | $24 467 625 944 | ||
9 | DOGE | Dogecoin predictions | 83.2% | 34 | $0.152277 | 6.37% | -2.46% | $21 971 170 288 | ||
10 | ADA | Cardano predictions | 89.2% | 19 | $0.436638 | -1.65% | -2.76% | $15 575 291 381 | ||
11 | SHIB | SHIBA INU predictions | 76.8% | 45 | $0.000024 | 6.25% | 0.88% | $14 062 348 281 | ||
12 | AVAX | Avalanche predictions | 82% | 34 | $32.63 | -2.10% | -11.47% | $12 454 931 556 | ||
13 | WTRX | Wrapped TRON predictions | 77.2% | 37 | $0.125383 | -0.79% | 4.98% | $10 967 761 858 | ||
14 | TRX | TRON predictions | 76.8% | 37 | $0.125004 | -1.44% | 5.34% | $10 934 584 190 | ||
15 | STETH | Lido stETH predictions | 91.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |
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